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AS MADARA Cosmetics has successfully started out year 2018, with turnover of the first quarter continuing its current growth trend.

Inside information, 2018-05-02 09:00 CEST (GLOBE NEWSWIRE)

The consolidated (unaudited) turnover of the company in the first quarter of 2018 amounts to 2.444 thous. EUR, which continues the upward trend of the previous years with 27% increase over the respective period last year.

The increase was mainly achieved by successfully continuing work in the existing markets. The fastest growth was observed in the countries within the European Union, where turnover increased by 38% (excluding Latvia); the growth has been also strong in Latvia – with 25% increase; while sales outside the European Union fell by 4% in comparison to the first quarter of 2017.

Overall, the company has positive outlook over the existing markets, and projects potential for further development in the next quarters, maintaining turnover forecast of 10 million EUR for 2018.


The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.